The Cardiff-based firm has been acquired by New York based iAltA
Gareth Lewis, Delio Wealth(Image: Brand Content)
Welsh fintech venture Delio Wealth has been acquired by New York-based private markets infrastructure venture iAltA Holdings.
The value of the deal has not been disclosed, but will see the existing management team of Delio remaining in place to drive the next growth phase of the business with plans to double headcount to 50. It has also moved to larger offices at Windsor Place in the centre of Cardiff next to its previous location.
Delio provide operating systems and investment structures that enable asset managers, wealth firms and other distributors to digitize, distribute, and report on private market products.
Founder and co-chief executive of Delio, Gareth Lewis, said: “Private markets have seen tremendous growth over the past few years, but the infrastructure has not kept up the demand for access and offerings. iAltA is our ideal partner since both our organisations were founded on the principle that the markets need more seamless and effective solutions to meet the challenges of demand. This partnership will increase both our reach and our impact.”
Launched in 2025 by founding partners Scott Ganeles, Bill Sherman, Bill Crager and Laurence Tosi, iAltA operates under a holding structure that blends core shared capabilities with foundational technologies and strategic partnerships with industry leaders. Each subsidiary operates independently while collectively contributing to the holding company’s larger cross-functional strategy and unified digital ecosystem.
Chief executive Mr Ganeles said: “We founded iAltA because we saw a tremendous market need to solve systemic issues within the private market landscape for general partners and distributors.
Delio has emerged as a digital infrastructure provider of choice for financial institutions seeking to integrate alternatives into their offerings while maintaining control over client experience.”
Trusted by more than 50 global financial institutions across 18 regulatory jurisdictions, Delio’s infrastructure supports more than 12,000 end clients worldwide, reinforcing its position as the leading industry utility for digital private markets capability. The company has been a cornerstone of fintech growth in Wales.
Its expansion in Cardiff has been supported by Cardiff Council.
Russell Goodway, cabinet member for investment and development, said: “Cardiff Council is delighted to have worked with the local Delio team to support their plans to create more business space in the centre of Cardiff. Given the opportunity for expansion locally we help this acquisition will lead to further growth in employment in the city and a strengthening of Cardiff’s leading role as a leading fintech cluster for Wales and the UK.”